Morning journal and courier., 1887-07-20
THE CONTRACT SIGNED.

Mayor York Attaches His Signature to
 the Necessary Papers and MT. Star
 buck Will To-Day Hand over HIa
 Check for Two Hundred and Seventy
 Five Thousand Dollars and the Lft-
 tie Derby Will be His.
 Mayor York yesterday afternoon affixed his signature to the contract disposing Of the city's interest in the Derby railroad to Will liam H. Starbuck. MT. Starbuck next signed the document and City Clerk Stanley immediately affixed the seal of the city to it. It was then agreed that the Mayor and MT. Starbuck should meet to-day at noon and then the stock will be transferred to the trustees and MT. Starbuck's check for $275,- 900 will be transferred to City Treasurer Harmanus M. Welch.
 The terms of the agreement are as fol-
 lows:
 This agreement between the city of New
 Haven, in the State of Connecticut, and William H. Starbuck of New York city, in the State of New York. witnesseth: First-The city of New Haven hereby agrees to sell, and the said William H. Star.
 buck agrees to buy, upon the terms herein upon the New Haven and Derby railroad
 company the city of New Haven now has,
 whether as stockholder or creditor, and par
 ticularly the two thousand shares of the cap- ital stock of the New Haven and Derby rail road company held by said city, and all the claims, demands and rights of action which said city has upon or against said company, for monies loaned, advanced or paid on it's account, under either acts of the General Assembly of the State of Connecticut of June 6, 1867, July g., 1869, July 21, 1871, or any acts of said General Assembly, or by virtue of any guarantee or other obligation entered into by said city under the authority of any act of said Gen. eral Assembly.
 Second-For effectuating the foregoing agreement the city of New Haven will, upon the due execution of those present, transfer, assign and convey in due form all the shares of stock and other property rights which are the subject thereof to Samuel E. Merwin, Luzon B. Morris and Ezekiel G. Stoddard of said city of New Haven, as trustees, held by them and survivors or successors of them for by proper instrument for that par pose, to the said William H. Starbuck as his absolute property, upon the fulfllment of the following specified conditions.
 The conditions of the sale have already been printed in full in the COURIER. MT. Starbuck is to pay $275, ,000 in cash, take care of the first mortgage bonds, remove the Derby depot to more convenient loca- tion, abolish grade crossings and remove the freight office. The provisions now pro- vide for the passage of one made up freight train to Starin dock every twenty. four hours, a connection to be made with the Housatonic near Haw1eyville or Newtown to the satisfaction of the trustees within a year. The trustees while holding the stock are entitled to vote.
 The fourth clause says that nothing in this agreement is to be understood as in any way affecting obligations of the agree ment between the city of New Haven and 5hs New Haven and Derby railroad com oany for the indemnity of the city against it's guaranty of said company bonds, as pro- 7ided by act of July 3, 1ss9, and the notes 'f the city referred to, or as impairing in my way the security held by the city for ,uoh agreement.